Sumitkumar Jayantibhai Patel has resigned as Non-Executive Independent Director of svs ventures effective June 01, 2026, due to other professional commitments. The resignation, communicated via a letter dated May 29, 2026, also includes his departure from the Audit Committee, Stakeholder Relationship Committee, and Nomination & Remuneration Committee. Patel confirmed there are no other material reasons for his departure beyond the stated professional commitments.

The company disclosed the development in a filing to BSE Limited under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. SVS Ventures stated it is currently in the process of identifying suitable candidates to fill the vacancy and will inform the stock exchange in due course.

Patel holds directorships in other listed entities, including Siddhi Costpin Limited, Orbit Pharma Limited, and Patron Exim Limited. In his role at Siddhi Costpin Limited, he serves as an Independent Director and is a member of the Audit, Stakeholder Relationship, and Nomination & Remuneration Committees.

Resignation Details

SVS Ventures Limited held its Board of Directors meeting on May 11, 2026, as previously intimated to BSE, and approved the audited standalone financial results for the half-year and full year ended March 31, 2026. The results were reviewed by the Audit Committee and approved by the Board pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The statutory audit was conducted by M/s. J M Patel & Bros, Chartered Accountants (Firm Registration No. 107707W), who issued their report with an unmodified opinion, though accompanied by several qualified observations detailed in Annexure-1.

Financial Performance Overview

SVS Ventures recorded a significant jump in revenue and profitability for FY26, driven primarily by activity in the second half of the year. The following table presents the key financial results:

The company's paid-up equity share capital stood at Rs. 2,134.96 lacs with a face value of Rs. 10 per share.

Balance Sheet Highlights

The company's total assets expanded to Rs. 4,326.27 lacs as of March 31, 2026, compared to Rs. 3,348.91 lacs in the previous year. Key balance sheet metrics are presented below:

Trade payables rose sharply to Rs. 854.76 lacs from nil in the prior year, contributing to the increase in current liabilities.

Cash Flow Summary

The company reported a net decrease in cash and cash equivalents during FY26. The table below summarises the cash flow position:

Net cash used in operating activities stood at Rs. (156.86) lacs, compared to a net inflow of Rs. 104.47 lacs in the prior year, reflecting significant working capital outflows including a Rs. 727.16 lacs increase in trade and other receivables.

Auditor Qualifications and Key Concerns

While the statutory auditors issued an unmodified opinion, they flagged several significant concerns in Annexure-1 to their report. These qualifications carry forward from prior years and include new developments:

• Unrecoverable loans: Outstanding loans of Rs. 6.98 crores in the account of former Managing Director Mr. Shashikant Sharma (who resigned following a SEBI enquiry) and Rs. 3.49 crores with his firm M/s Vijay & Co. remain unrecovered and are subject to verification.
• Related party transactions: Significant transactions with group companies under the same management include Loan & Advances debit of Rs. 5.41 crores, Debtors debit of Rs. 14.10 crores, and Creditors credit of Rs. 14.61 crores, with a net debit of Rs. 5.92 crores, all subject to verification.
• Short-term loans: The company has reported short-term loans totalling Rs. 18.98 crores under Loans & Advances, a significant portion extended to related parties without formal agreements.
• Unverifiable/fictitious assets: Auditors flagged Goodwill of Rs. 2.51 crores and old stock of building material of Rs. 3.81 crores as potentially requiring write-off.
• New investments without agreements: During the year, the company invested Rs. 85 lacs with M/s Shri Prabhuj Developers and Rs. 1.65 crores with Shri Prabhuj Infra without any formal agreements or terms. Additionally, Rs. 50 lacs investment income was credited from M/s Gopinath and M/s Sagar Empire without any calculation or basis of income.
• Business change: The company changed its core business from real estate to agro-based goods with effect from September 5, 2026. Revenue from operations comprises GST-free agro items, which auditors were unable to fully verify for tax category compliance.
• Audit trail non-compliance: The company has not implemented accounting software with a non-disableable audit trail as required under Section 128(5) of the Companies Act, 2013.

Trading Window and Regulatory Compliance

In accordance with the company's Code of Conduct for Prohibition of Insider Trading, the trading window for dealing in SVS Ventures securities was closed for all Designated Persons from April 1, 2026, and will reopen 48 hours after the declaration of the financial results. The board meeting commenced at 12:00 PM (IST) and concluded at 01:30 PM (IST) on May 11, 2026. The outcome was signed and submitted to BSE by Vishal Mahendrabhai Thekdi, Managing Director (Additional), DIN: 06434203.